DECEMBER 2011 HOUSING REPORT for LYNCHBURG, VIRGINIA

DECEMBER 2011 - LYNCHBURG HOUSING REPORT

Houses for Sale (current MLS) 1366 (1-6-2012)

New Listings for DECEMBER 2011 143

Houses Sold in DECEMBER 2011 136

• Average Days on the Market = 145/168 Longer than previous months
• Sale Price % to List Price = 95.86 (Up by 1.12% )
• Average Sales Price = $ 170,337.00 (Positive – Up by $ 1466.00)

The Inventory of HOMES for SALE is 9.5 Months

DOWN below 12 months for the 1^st Time since I started this report April 2010!

Dear Friends – HAPPY NEW YEAR!!!

Will 2012 be Happy for Realtors – Mortgage Lenders – Home Inspectors – Closing Companies, BUYERS and SELLERS?

I am hitting the ground running! I have completed my Business Plan for 2012 & it shows me that I will be working smarter to make the most out of the hours I work with both my Buyers & Sellers.

The Outlook:

· BUYERS are taking longer to make decisions on the home they buy because there are so many homes on the market for them to look at and because they are scared by the news they hear each day. BUYERS have to reconcile their “feelings” – their housing dollar goes farther today than ever because houses are priced low & INTEREST RATES are at a Historic Low!

· SELLERS are frustrated because they can’t get offers on their houses after they have lowered the price. SELLERS must be realistic – The Housing Market is What It Is! The House has to be priced as the Market dictates, it has to be Turn-Key, all Repairs have to be done, and the house has to be shown because no shows = no offers = no sales!

· Me - My job is to keep both groups motivated, informed, pacified and calm - Not an easy job!

· CLOSINGS are taking 45 to 60 days on average and are requiring the Patience of Job for everyone in the transaction!

I am excited to announce that I will be launching HOMES FOR HEROES this month – watch for the announcement and details. This is a wonderful program that gives me the opportunity to make Home Buying & Selling more affordable for Community Heroes! To get a sneak peak go to www.homesforheroes.com – I am the exclusive Realtor for this program in the Central VA area!

This information is taken from statistics for single family homes provided through the LAR MLS & analyzed by Kathy Carson-

There can be variables that affect my analysis. I supply this information for my customers, clients & business associates.